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South Korea Pitch Based Carbon Fiber Market

ID: MRFR/CnM/47527-HCR
200 Pages
Chitranshi Jaiswal
October 2025

South Korea Pitch-Based Carbon Fiber Market Research Report By Type (Composites, Non-Composites) and By Application (Aerospace & Defense, Automotive, Construction, Wind Energy, Sports & Leisure, Others) - Forecast to 2035

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South Korea Pitch Based Carbon Fiber Market Summary

As per Market Research Future analysis, the pitch-based carbon fiber market Size was estimated at 27.3 USD Million in 2024. The South Korea pitch based-carbon-fiber market is projected to grow from 29.6 USD Million in 2025 to 66.5 USD Million by 2035, exhibiting a compound annual growth rate (CAGR) of 8.4% during the forecast period 2025 - 2035

Key Market Trends & Highlights

The South Korea pitch based-carbon-fiber market is poised for substantial growth driven by technological advancements and increasing applications across various sectors.

  • The aerospace sector emerges as the largest segment, reflecting a robust demand for lightweight materials.
  • Innovations in the automotive industry position it as the fastest-growing segment, emphasizing the need for enhanced performance and efficiency.
  • Government support for advanced materials is fostering a conducive environment for market expansion and innovation.
  • Technological advancements in manufacturing and increased investment in aerospace and defense are key drivers propelling market growth.

Market Size & Forecast

2024 Market Size 27.3 (USD Million)
2035 Market Size 66.5 (USD Million)
CAGR (2025 - 2035) 8.43%

Major Players

Toray Industries (JP), Mitsubishi Chemical Corporation (JP), SGL Carbon (DE), Teijin Limited (JP), Hexcel Corporation (US), Cytec Industries (US), Zoltek Companies (US), Formosa Plastics Corporation (TW)

South Korea Pitch Based Carbon Fiber Market Trends

The pitch-based carbon fiber market in South Korea is currently experiencing notable growth, driven by increasing demand across various industries such as aerospace, automotive, and construction. The material's unique properties, including high strength-to-weight ratio and excellent thermal stability, make it an attractive choice for manufacturers seeking to enhance product performance. Furthermore, the South Korean government's initiatives to promote advanced materials and sustainable technologies are likely to bolster the market's expansion. As industries continue to innovate, the adoption of pitch based-carbon-fiber is expected to rise, reflecting a shift towards lightweight and durable materials. In addition, the competitive landscape of the pitch based-carbon-fiber market is evolving, with several domestic players investing in research and development to improve production processes and product quality. Collaborations between industry and academia are fostering innovation, potentially leading to breakthroughs in applications and manufacturing techniques. The market appears poised for further advancements, as stakeholders recognize the material's potential in enhancing energy efficiency and reducing environmental impact. Overall, the pitch based-carbon-fiber market in South Korea is on a trajectory of growth, driven by technological advancements and increasing industrial applications.

Rising Demand in Aerospace Sector

The aerospace industry in South Korea is increasingly adopting pitch based-carbon-fiber due to its lightweight and high-strength characteristics. This trend is likely to enhance fuel efficiency and performance in aircraft manufacturing, aligning with global sustainability goals.

Automotive Industry Innovations

The automotive sector is witnessing a shift towards lightweight materials, with pitch based-carbon-fiber gaining traction. This trend may lead to improved vehicle performance and reduced emissions, as manufacturers seek to comply with stringent environmental regulations.

Government Support for Advanced Materials

The South Korean government is actively promoting the development of advanced materials, including pitch based-carbon-fiber. This support could facilitate research initiatives and funding opportunities, fostering innovation and growth within the market.

Market Segment Insights

By Type: Composites (Largest) vs. Non-Composites (Fastest-Growing)

In the South Korea pitch based-carbon-fiber market, composites hold a significant market share due to their enhanced performance characteristics and established applications across numerous industries. The adoption of composite materials has been driven by their superior strength-to-weight ratio, making them preferable in sectors such as automotive and aerospace. Meanwhile, non-composites, while currently holding a smaller portion of the market, are rapidly gaining traction as new manufacturing techniques and innovative applications emerge. The growth trends for the type segment indicate a substantial increase in demand for non-composites, which are seen as cost-effective alternatives in various applications. Factors such as technological advancements, supportive government policies, and evolving consumer preferences toward lightweight and durable materials contribute significantly to the upward growth trajectory of non-composites. This shift reflects a broader trend in material science, where traditional composites are increasingly supplemented by non-composite innovations, highlighting a dynamic landscape.

Composites: Dominant vs. Non-Composites: Emerging

Composites have established themselves as the dominant force in the South Korea pitch based-carbon-fiber market, primarily utilized in high-performance applications due to their impressive mechanical properties and durability. Industries utilize composites for a range of products, including sporting goods, automotive parts, and aerospace components, contributing to their widespread acceptance and market leadership. On the other hand, non-composites are emerging as a significant player, as they offer advantages in terms of cost-efficiency and ease of production. New technological innovations are allowing for enhanced performance of non-composites, broadening their applications. As the market evolves, both segments are poised for growth, with composites maintaining their dominance while non-composites capture emerging opportunities.

By Application: Aerospace & Defense (Largest) vs. Automotive (Fastest-Growing)

The market share distribution within the South Korea pitch based-carbon-fiber market reveals the dominance of the Aerospace & Defense segment, which holds the largest share due to the increasing demand for lightweight materials that enhance fuel efficiency and performance in aviation and military applications. Following closely, the Automotive segment is showing promising growth as manufacturers continue to prioritize carbon fiber for its strength-to-weight ratio, leading to innovative applications in vehicle design and production. Growth trends in this market are influenced by notable drivers such as technological advancements and increasing investments in carbon fiber manufacturing. The Aerospace & Defense sector is propelled by ongoing projects in defense strategies and energy-efficient technologies. Meanwhile, the Automotive sector is rapidly evolving, fueled by a shift towards electric vehicles and sustainability trends that favor lighter, more durable materials, positioning this segment as the fastest-growing in the market.

Aerospace & Defense (Dominant) vs. Automotive (Emerging)

The Aerospace & Defense segment is characterized by its extensive use of pitch based-carbon-fiber composites in high-performance applications, offering unparalleled strength and stability, which are critical for aircraft and defense systems. This segment not only exhibits a robust market presence but also benefits from continuous investments in innovative aerospace technologies. In contrast, the Automotive segment, while currently emerging, showcases significant potential owing to the growing demand for lightweight construction materials in the face of increasing fuel efficiency regulations. It is witnessing accelerated adoption as automotive manufacturers embrace carbon fiber in their designs, particularly in high-end and performance vehicles, creating a rapid shift towards this resilient and lighter material.

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Key Players and Competitive Insights

The pitch based-carbon-fiber market in South Korea is characterized by a competitive landscape that is increasingly shaped by innovation, sustainability, and strategic partnerships. Key players such as Toray Industries (Japan), Mitsubishi Chemical Corporation (Japan), and SGL Carbon (Germany) are at the forefront, each adopting distinct strategies to enhance their market positioning. Toray Industries (Japan) focuses on advancing its research and development capabilities, particularly in high-performance applications, while Mitsubishi Chemical Corporation (Japan) emphasizes sustainability through eco-friendly production processes. SGL Carbon (Germany) is leveraging its expertise in lightweight materials to cater to the automotive and aerospace sectors, indicating a trend towards specialized applications that drive growth.

The business tactics employed by these companies reflect a concerted effort to optimize supply chains and localize manufacturing. The market structure appears moderately fragmented, with several players vying for dominance. However, the collective influence of these key players suggests a trend towards consolidation, as companies seek to enhance their competitive edge through strategic collaborations and technological advancements.

In September 2025, Toray Industries (Japan) announced a partnership with a leading automotive manufacturer to develop next-generation carbon-fiber composites aimed at reducing vehicle weight and improving fuel efficiency. This collaboration underscores Toray's commitment to innovation and positions it favorably within the automotive sector, where lightweight materials are increasingly critical for meeting regulatory standards and consumer demands.

In October 2025, Mitsubishi Chemical Corporation (Japan) unveiled a new production facility dedicated to sustainable carbon-fiber manufacturing. This facility is expected to reduce carbon emissions by 30%, aligning with global sustainability goals. The strategic importance of this move lies in its potential to enhance Mitsubishi's market share while appealing to environmentally conscious consumers and industries.

In August 2025, SGL Carbon (Germany) expanded its product portfolio by introducing a new line of pitch-based carbon fibers specifically designed for the aerospace industry. This strategic action not only diversifies SGL's offerings but also positions the company to capitalize on the growing demand for lightweight materials in aerospace applications, which are critical for improving fuel efficiency and performance.

As of November 2025, the competitive trends in the pitch based-carbon-fiber market are increasingly defined by digitalization, sustainability, and the integration of advanced technologies such as AI. Strategic alliances are becoming more prevalent, as companies recognize the need to collaborate in order to innovate and meet evolving market demands. The shift from price-based competition to a focus on innovation, technology, and supply chain reliability is evident, suggesting that future competitive differentiation will hinge on the ability to deliver high-quality, sustainable products that meet the specific needs of diverse industries.

Key Companies in the South Korea Pitch Based Carbon Fiber Market market include

Industry Developments

There have been significant developments in the South Korea Pitch-Based Carbon Fiber Market recently. Companies like Nippon Graphite Fiber, Toray Industries, and SGL Carbon have ramped up their production capacities, responding to rising demand fueled by sectors such as aerospace and renewable energy. In September 2023, Hanwha Group announced an expansion of its carbon fiber production facilities to enhance competitiveness, anticipating a market growth trajectory backed by government initiatives to support high-tech materials.

In terms of mergers and acquisitions, Formosa Plastics was involved in discussions to acquire a significant stake in Koran Carbon Fiber in August 2023, aiming to consolidate their market presence; however, no finalized contracts have been reported yet. 

The market is projected to grow considerably, with its valuation increasing by approximately 15% over the past year, reflecting robust investment in Research and Development by major players like Mitsubishi Rayon and Cytec Solvay Group. This growth is not just limited to production capacity but also focuses on sustainability and innovation in materials used in electronics and automotive applications, marking a transformational period for South Korea’s pitch-based carbon fiber industry.

Future Outlook

South Korea Pitch Based Carbon Fiber Market Future Outlook

The pitch based-carbon-fiber market in South Korea is projected to grow at an 8.43% CAGR from 2024 to 2035, driven by advancements in aerospace, automotive, and renewable energy sectors.

New opportunities lie in:

  • Development of high-performance composite materials for aerospace applications.
  • Expansion of pitch-based carbon fiber in electric vehicle manufacturing.
  • Investment in recycling technologies for sustainable carbon fiber production.

By 2035, the pitch based-carbon-fiber market is expected to achieve substantial growth and innovation.

Market Segmentation

South Korea Pitch Based Carbon Fiber Market Type Outlook

  • Composites
  • Non-Composites

South Korea Pitch Based Carbon Fiber Market Application Outlook

  • Aerospace & Defense
  • Automotive
  • Construction
  • Wind Energy
  • Sports & Leisure
  • Others

Report Scope

MARKET SIZE 202427.3(USD Million)
MARKET SIZE 202529.6(USD Million)
MARKET SIZE 203566.5(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)8.43% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies Profiled["Toray Industries (JP)", "Mitsubishi Chemical Corporation (JP)", "SGL Carbon (DE)", "Teijin Limited (JP)", "Hexcel Corporation (US)", "Cytec Industries (US)", "Zoltek Companies (US)", "Formosa Plastics Corporation (TW)"]
Segments CoveredType, Application
Key Market OpportunitiesGrowing demand for lightweight materials in automotive and aerospace sectors drives pitch based-carbon-fiber market expansion.
Key Market DynamicsRising demand for lightweight materials drives innovation in pitch based-carbon-fiber applications across various industries.
Countries CoveredSouth Korea

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FAQs

What is the expected market size of the South Korea Pitch-Based Carbon Fiber Market in 2024?

The South Korea Pitch-Based Carbon Fiber Market is expected to be valued at 27.3 million USD in 2024.

What is the projected market size for the South Korea Pitch-Based Carbon Fiber Market by 2035?

By 2035, the South Korea Pitch-Based Carbon Fiber Market is projected to reach a value of 93.8 million USD.

What is the expected compound annual growth rate (CAGR) for the South Korea Pitch-Based Carbon Fiber Market from 2025 to 2035?

The expected CAGR for the South Korea Pitch-Based Carbon Fiber Market from 2025 to 2035 is 11.874%.

Which segment is expected to have a larger market size in 2035, Composites or Non-Composites?

In 2035, the Composites segment is expected to have a larger market size valued at 48.5 million USD compared to Non-Composites at 45.3 million USD.

Who are the major players in the South Korea Pitch-Based Carbon Fiber Market?

Key players in the South Korea Pitch-Based Carbon Fiber Market include Nippon Graphite Fiber, Cytec Solvay Group, and Toray Industries, among others.

What was the market value for Composites in the South Korea Pitch-Based Carbon Fiber Market in 2024?

The market value for Composites in 2024 is anticipated to be 13.5 million USD.

What challenges may impact the growth of the South Korea Pitch-Based Carbon Fiber Market?

Challenges that may impact the market include fluctuations in raw material prices and technological advancements.

What key trends are emerging in the South Korea Pitch-Based Carbon Fiber Market?

Emerging trends include increasing demand for lightweight materials and innovations in manufacturing processes.

How does the South Korea Pitch-Based Carbon Fiber Market compare regionally?

The South Korea Pitch-Based Carbon Fiber Market is a key player in the Asia-Pacific region, showing robust growth compared to other regions.

What are the primary applications of pitch-based carbon fiber in South Korea?

Primary applications of pitch-based carbon fiber in South Korea include aerospace, automotive, and construction industries.

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